Bitcoin Forum

Although the Network Ghash goes up, and the PPS goes down (BTC Guild), price per USD of each bitcoin still goes up overall, which is one common comparison of the value of Bitcoin.

So my GPUs are still considered profitable, being already paid off many times, and thanks to cheap electricity rates here. As of right now, I can mine about $294 USD of BTC per month (0.07 BTC x 30 days x $140 USD) but my electricity bill is never more than $200. I check this every week or so. Sometimes maybe a week is bad, right now it is good.

Overall it has been very good, and my almost 2 year run has been profitable, starting with just one GPU in a Mac Pro (Radeon 5770), purchased for other reasons, that I didn't even know had such capability, and now with the Mac Pro and two purpose built machines, made with used parts acquired cheap.

When do the ASICs take over? We are told last year, November? No, it's rubbish! Still now, April 2013, it's profitable for old paid-off GPUs to run. I predicted I might have to shut down in March, but no! Does anyone know?

Honestly, if your good with getting 0.07 / day then what about 0.03, 0.02, 0.01?  Thats probably about 6 months out at most.

Not to nitpick OP, but what do you consider good electric rates? If your elec bill is $200 / mo, and you're generating .07BTC/day, that's approx 1200MH/sec, and 1818.18... kWh per month @ $0.11 / kWh, or about 2525W of power 24/7, which seems high to me. Unless you're saying you have some big azz house and you're paying for all the other uses too from 2 7970s, which sounds nice, but isn't a fair comparison of "profitable" as your mining rig is probably only using ~475W of the 2525W you're calculating against.

I'm minting around 5 LTC/day with two 7970s and a few xeon CPUs on free electricity. that's 150 LTC/month at currently 3.7 USD/LTC... 555USD/month is nice

Sorry, I call BS on this!  What Mhash/s do you get on a Radeon 5770 to be able to earn .07 BTC per day these days?  Please share as I'm sure many people who also only own GPUs would like to know.

you should read more carefully... " starting with just one GPU in a Mac Pro (Radeon 5770) [...] and now with the Mac Pro and two purpose built machines, made with used parts acquired cheap."

No idea what the OP is really getting, but http://dustcoin.com/mining (http://dustcoin.com/mining) says that you need 1250MH/s for 0.07 BTC per day

Oh, definitely profitable. Even plain old BTC mining is good in here. Right now I have pointed few rigs to LTC, around 20LTC per day incoming with a power cost of about 15USD per day. LTC being +4USD you can easily do the math.

yay, you found a word that invalidates my comment.  I stand corrected.

Can I still ask the question to the OP, what are the specs of the two purpose built machines you refer to?

I might be wrong, but I'm pretty sure he has a couple 5830s, maybe 3 per rig (it's been a while... lol)

I make profit, electric is included in the rent :)
so with my 7970 i would make $135 says this site http://dustcoin.com/mining
my computer use 400w per hour and that would cost around $50-60 per month here in Sweden

6 Gh/s, no electricity bill, you do the math.

I am still profitable but barley. I am bringing in about 1 BTC a month at the moment. I will be turning off my miner as soon as I flat line,, I suspect this will in 1 - 2 months. My hardware costs were written off a long time ago, so if your counting on buying new equipment to mine with your wasting your time and would be better off spending the money on BTC and trying to get in too the next batch of mining technology that comes out.

Switching over to Lytecoin and buying BTC with them.. makes more sense or something?

Well I guess only one is really purpose built - I forget the motherboard now, it's been so long, but it has 3 full length PCIe slots, one is 16x and the other are 4x, and they are all double spaced. Maybe it was MSI motherboard. I got the board with an Intel Core 2 Duo 2.66 GHz for about $80 from a local shop, secondhand. I paid another $20 for a used full height ATX case and $80 for a new PSU adequate enough to run 2x5770 and 1x5830.

The other one is an old Compaq that was given to me several years ago that happens to have one PCIe 16x slot. It was otherwise unused so I upgraded the PSU and installed a 5850. It also runs my Bitcoin program.

Average price per kWh I pay is $0.091. My last bill was only $133 but it is because I have been able to leave the windows open and I do not have to run any heat. Other than mining I use little other electricity, except during summer where I have to run air conditioning.

Burning FTC currently with my humble 1 ghash rig (3x 7850), making around $20 a day at present market value

I've been mining FTC and LTC for around $50/day after power cost with 8 GPUs

Running sealed racks with shelved open chassis miners 2 or 3 or 4 cards each... AC'd in my garage.

Total power bill for the house ~$300/month

I have matched the hashing rate of my fpgas with gpu rigs - now clearing half a coin a day... (incidently when I started with only my existing gpus and a small order of bfl fpga, I was making 3 coins a day).

My income is dropping off a bit - but it's right where my educated guesses said it would be according to the difficultly increasing I expected.

Still making ~15btc a month. This puts my profit point ~20 usd/btc.

So yah, I'm not too worried about it... I know when to shut them off... and it isn't yet.

2x 6950's
2x 6870's
2x 6570's

3 litecoins a day
Free electricity at the office :D

It's smallfry monthly income, but it's fun and the hardware takes no time to pay itself off.

5.5 Gh/s with 7 6990s. $325/month in electricity, about 7.2 BTC gross a month. (~4 BTC profit per month, at current prices.)

I operate 2 beavers in a treadmill that then generate a dynamo that produce the power for my 30 m hash farm doing LTC

Long story short it costs me about 2 good solid logs of wood to feed the beavers so i am pretty happy with my wood debt

When u apply the :    wood/LTC * (beaver_ouput) = $$ formula

I am at least 2.7 beavers per wood hash ahead

So i am pretty happy and the beavers are 2 ..I am looking to get at least another 2 beavers by the end of may to up my beaver/wood diff calc ratio

I reckon I wil be rolling in beavers by the end of December and will be able to buy that Beaver lodge of my very own  8)

nice!  price of those cards probably have spiked with bitcoin.

My GPU farm (8GH/s) is still highly profitable.  Income is ~8BTC/Mo after overhead.

2x 7970
1x 6870 (unique make special 6870 with 1600 shaders like a 5870 and 6870 clockspeeds)
1x 7770

Managing 0.07 BTC a day @ ~1.75Ghash/s. 0.095 kw/h. Selling 1x 7970 in a few days to someone to lock in the good value that 7970s have right now.

Calculated that my 2.35Ghs farm will be marginally profitable until difficulty hits 110 million, given local low electricity cost. Then winter will come and I'll continue mining at a loss to heat the house instead of using electric heaters. So mining will commence until at least April next year.

I don't have much hope for LTC mining after that as profitability will most probably remain low.

Still Profitable for me.  Thought not cranking out as many bitcoins as I would like as the difficulty has been rising.

Of course it's still profitable. See here:

Click for larger image:
http://s24.postimg.org/5oxofpefl/Capture2.jpg (http://postimg.org/image/5oxofpefl/)

PPS rates have dropped ~8% since I took a screenshot of my chart, but that didn't change it too drastically. I still make ~$2/day, after power costs.

I'm currently mining with

1x HD7970
1x HD7850
2x HD5970

on free-ish electricity. It's still profitable (of course).
Getting 2.1 ghash because one of the 5970's are failing, so I can only run that below stock settings.

I'm looking forward to the future of bitcoin, and try to keep the very most of my coins in my wallet, and not to convert them to USD. :)
 
 

Just keep mining while its still profitable, even if its only a few dollars a week. Hold those coins and wait for higher prices, that way you haven't risked anything. You might find those few dollars a week are worth a lot more. When ASICs take over pick your favourite alt-coin and mine that...

I'm going to do this.


This is my plan, maybe litecoin is a good alternative.
I'm curious what will happen with it, when all the GPU miners are switching from bitcoin. The difficulty will rise, but the BTC/LTC rate should too, to remain profitable for us.

I think Litecoin will be the one that most miners turn to - only question is, what will that do to Litecoin? Either price must increase to compensate for the increase in difficulty, or else people won't mine it because its not profitable. But then people won't be mining it? So difficulty should drop... Not exactly sure how it will play out TBH, but I've bought some Litecoins just in case  ;)

Generally everyone should think of ltc as a pump and dump vehicle. Long term it's going nowhere.

That being said, no reason to not mine it if it's profitable for your gpus.

2x6950's, getting down to only $50 worth a month profit

I'm hashing at around 300 Mh/s on my HD6870 and making about 10 mBTC per day. My electricity costs 12.9p per kWh (0.2USD), so my daily profit is currently about 3.35 mBTC. I'll keep mining on it though until my April Jalapeno arrives and investing the 0.01 BTC into mining stocks. I'm already making more from those stocks than I am from mining.

I'm still profitable with my 5x7950s.  But I think the gig will be up come September.

btc or ltc?

BTC -> mined by ASICs
LTC -> mined by GPU's

They be both sides of the ssame coin with the exchange rate to compensate unterbegwegnuung

+1 to this, and it is already what i'm doing

I just liquidated my GPUs - now I'm trying to decide if I should hold BTC or buy overpriced acisminers.

dollars and BTC

only if you aren't using 5xxx cards, otherwise you're losing way too much equity

Gpu mining  is barely profitable.

At current prices and the recently adjusted diff, I'm down to ~$0.50/day profit per GPU, after you take out electric costs. Not a lot, but I've already had to move into some serious undervolting territory.

I may just shut them off, since $15/month isn't a lot. Meh.

I guess now is the time that I get to celebrate having free electricity? I won't be purchasing any more GPUs, but I don't see myself turning them off for quite some time.